Risk Strategies acquires North American operations of HW International

Specialty insurance brokerage and risk management firm Risk Strategies has acquired the North American operations of HW International BV.

Privately-owned insurance broker HWI has sold its US and Canadian operating entities, Hugh Wood (US) and Hugh Wood Canada, following a strategic review, and subsequent sales process. Following the sale, HWI BV Group will partner with Risk Strategies in North America.

HWI BV Group is the holding company for HW Wood, a brokerage founded in 1982 with an established Lloyd’s presence and offering a wide range of specialist lines. The Group also has offices in Europe and Australia and specialises in international real estate, fine art and specie, corporate, construction, marine and professional lines.

David Nelson, chairman of HWI BV Group, said: “The entire H.W. International BV Board has been unanimous in their support of this deal. This is an excellent opportunity for the HWI BV Group and the North American teams, and we see Risk Strategies as the ideal partner for HWI BV. The deal will enable the HWI BV Group to continue to prosper and work together with a fantastic partner in North America, as well as creating a relationship that is truly additive to all parties. We consider this as a first step towards a wider relationship with Risk Strategies, and we can only see benefits to all of the HWI BV Group’s firms and their teams.”

John Mina, global CEO, Accession Risk Management Group, parent brand of Risk Strategies and One80 Intermediaries, said: “We are excited to welcome these Hugh Wood companies into the Risk Strategies family and expand our operations to serve the risk management and insurance needs of clients in Canada,” said   “Our goal in acquiring firms is to bring on specialists with a client-first, collaborative approach and the potential to both strengthen and expand our reach and capabilities.”

Simon De Burgh Codrington, vice chairman, Hugh Wood Inc/Joint Group CEO, added: “We care greatly about the future of our clients and our people. We found in Risk Strategies a firm uniquely suited to carry on our traditions while offering new capabilities and options for our clients and people. It’s a best-of-all circumstances arrangement with a great future.”

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